Vivek Bommi, Portfolio Manager focused on Global and European Non-Investment Grade portfolios with Neuberger Berman’s Global Non-Investment Grade Fixed Income team, has decided to leave the firm. Vivek’s responsibilities will be absorbed by existing team members. Senior Portfolio Managers Chris Kocinski, Joseph Lind, Joe Lynch, Stephen Casey, Russ Covode and Simon Matthews will continue to manage the Global Non-Investment Grade portfolios. Specifically for NBI, Simon Matthews will replace Vivek as a named PM on the portfolio.
The Global Non-Investment Grade Credit investment team (50+) is highly experienced, tenured and focused solely on Non-Investment Grade Credit. The team is part of the broader Neuberger Berman Fixed Income platform which is characterized by its depth, experience and collaborative approach, with more than 170 investment professionals globally. The platform is globally integrated and highly collaborative.
The departure is a surprise to RRM and we note that Vivek Bommi had been a regular and excellent communicator to the NBI unit holder base. This was particularly important during 2020 as well as more broadly in terms of getting a portion of the Australian investor base up to speed all things HY bonds.
Nevertheless, a benefit of a large global team, long standing investment process, a deep bench of talent is it generally minimising key person risk. In short, RRM would anticipate a seamless transition